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Article: Is Graham's bottle half empty or half full?; Packaging firm had difficult 2000; $50 million infusion offers new hope.
- Article from:
- Plastics News
- Article date:
- April 30, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Graham Packaging Co. LP experienced explosive growth in the 1990s but had a very difficult year in 2000.
A $20 million-plus investment to make single-serve PET bottles for Tropicana Products Inc. did not bear immediate fruit.
PET bottle-resin prices rose nearly 20 percent in seven months, slowing the conversion from glass bottles to plastic.
Wall Street indifference forced Graham to cancel an initial public offering of common stock.
Graham's European business suffered from declining performance at its French operations. Then, an economic slowdown hit late in the year, complicating the firm's comeback attempt.
Now, however, a ...